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Concept of Closing Stock
Closing and opening stocks are actually the foundation stones of any business and thus are very crucial in accounting for company’s actual financial standing. Closing stock is the amount of inventory the company has at the end of a reporting period.
The Closing Stock Assignment help service helps in providing an insight into aspects such as:
- Raw Materials.
- Work-in-process.
- Finished Goods inventory.
These inventories are the basis for calculation of the closing stock.
Also known as ending inventory the closing stock can be ascertained with the help of:
- Physical count of the inventory present at the end of the year.
- Perpetual Inventory system.
- Cycle counting system to adjust inventory continually.
Closing Stock Homework Help services
The closing Stock Assignment Help service aims at providing to you accurate and speedy answers to your accounting query in regards to closing stock calculation. However arduous the problem may be, our expert teachers have the capability to bring at ease all your anxieties. While you are availing the effective service of this manualyou will cover subjects like:
- Understanding the concept of inventory, how it holds for different industries.
- The concept of Lower of Cost or Market Rule(LCM)
- The generally accepted accounting principles and their application in calculation of closing stock.
Various methods of calculation of Closing Stock:
- First in, First out method.
- Last in. First out method.
- Retail inventory method.
- Weighted average method.
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